Aug 30, 2022
(8/30/22) With markets in an over-sold on multiple levels, a
rally was due, and markets did on Monday test the 50-DMA and
bounced, almost rallying to break-even, before slipping back to the
close. Markets actually posted a "green candle" for the day.
Tuesday morning futures are pointing higher, as a prelude to an
attempt at a bounce, with the potential to get back up to the
20-DMA. We will likely see a rally that is sold-into. A rally to
reverse the over-sold condition is needed if the sell-off is to
continue. A hold at the 50-DMA level will continue the upward trend
and allow the bulls a little more room in which to work. We're
suggesting using any rally to sell-into and raise some cash,
because there is still risk to the downside.
Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts,
CIO
Produced by Brent Clanton
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